A general view shows the Swallow's Nest castle overlooking the Black Sea outside the Crimean town of Yaltaю (Reuters/Shamil Zhumatov) / Reuters

Kiev will nationalize Russian overseas property as compensation for the losses over Crimea’s reunification with Russia, Ukraine’s Deputy Minister of Justice Natalia Sevostyanova said. The decision is now up to the European Court of Human Rights.

"There will be a stage of satisfaction, when we’ll determine
the amount by which the compensation will be directly paid to...
The tool of property seizure is very effective abroad. Russia
currently has a lot of such property in other countries,"
Sevostyanova said.

More than 400 Ukrainian companies and 18 gas fields have been
nationalized in Crimea, according to Ukraine’s Ministry of
Justice.

Crimea rejoined Russia in March 2014 after a
referendum where the majority of people voted for secession from
Ukraine and for joining Russia. Ukraine then called the result of
the referendum Russia’s “illegal annexation” of the
peninsula and filed its first lawsuit against Moscow to the
European Court of Human Rights. Kiev estimated its losses at over
1 trillion hryvnia ($47 billion). Later, the country filed
another lawsuit, related to the Donbass, over Moscow’s alleged
involvement in the military conflict in southeastern Ukraine.

The reunion of Crimea and Sevastopol with Russia complies with
international law, Russian Justice Minister Aleksandr Konovalov
said last week.